Nifty Today May 12th 2017: Nifty on Friday opened near the day’s high for second day with 14 points in the green but again gains are short lived as nifty started to drift lower to hit the lows of 9372.55. Nifty took support near the strong support zone of 9370-9380 to close the day above 9400.
Nifty 12th May 2017 Intraday Movement:
Opening: 9436.65, High: 9437.75, Low: 9372.55, Closing: 9400.90
Nifty Spot: 9400.90(-21.50)
Nifty 25 May 2017 Expiry Futures: 9414.80(-25.05)
Support: 9380, 9330
Resistance: 9450, 9500
Today’s FII’s Activity (12th May 2017): FII’s selling continued in the index futures where they sold 916 crores and also sold 122 crores in Index options.
Nifty Forecast/Outlook for 15th May 2017: Nifty forms a bearish pattern and FII’s data shows they are selling. 9380 levels act as strong support any closing below 9380 can take the market to 9320 and to 9200 levels. So our view is to be cautious on nifty and not to create any fresh positions till data are backing the move.
Nifty’s Negative Signal: Heavy call writing at 9500 and 9400 levels. FII’s are sellers.
Nifty’s Positive signal: Long term UP trend
Nifty View on Monday: Sideways with negative bias.
Nifty Short Term trend: UP
Nifty Target for 15th May 2017: Nifty can move between 9330- 9450 levels.
Nifty up trend reversal point: Closing below 8980 Levels.
Open Strategies: Risky trade created on 27th April 2017 buying Nifty May 9500 Put @ 180 levels and again averaged on 11-May-2017 at 90 levels. Thus the current open position price of Rs.135 is been held with a target of 275 with the stop around 60. Current loss: 24 points.
Visit our website on 15th may 2017 8.30 PM to get the nifty view for 16th May 2017.
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